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Movers & Shakers

Movers & Shakers
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First Published: Thu, Apr 23 2009. 11 42 PM IST
Updated: Thu, Apr 23 2009. 11 42 PM IST
Zee Entertainment (6.5% down)
Zee Entertainment lost 6.5% after Macquarie reaffirmed its underperform rating. Macquarie was disappointed by the management’s decision to provide disclosure of a stake purchase almost 12 months after the transaction and by the lack of detail on the former partner.
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LIC Housing (6% up)
Shares of LIC Housing Finance were up 6% after the company reported a net profit of Rs157.5 crore for the fourth quarter, against Rs118 crore for the same period in the previous year. The company’s loan sanction and disbursement growth was 22% and 21%, respectively.
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Wipro (11.3% up)
The Wipro share gained 11.3% after the company reported numbers that were in line with analysts’ expectations. Also weighing in its favour was a guidance that was better than that put out by its peers, and a currency arithmetic that some say keeps Wipro well- positioned to build on its FY09 performance.
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Amtek Auto (7.3% up)
The Amtek Auto scrip was up 7.3% following reports suggesting that the company was in advanced negotiations to acquire OCL Iron and Steel, as part of its strategy of backward integration. People familiar with the matter said that the transaction would value the company at around Rs 350 crore.
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Rolta (5% down)
After a 10% fall on Wednesday, shares of Rolta dropped a further 5%, after the management told CNBC-TV18 that its numbers had been impacted due to a slowdown in engineering and enterprise solutions business, postponement of orders and price adjustment of 4-5% with clients.
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Gateway Distriparks (3.5% down)
Gateway Distriparks shares were down 3.5% after All Cargo sold 2.3% out of the 5.96% equity stake it held in Gateway. Allcargo had told CNBC-TV18 that the stake buy was a normal treasury operation. Allcargo had bought the stake from Temasek, the Singapore government’s investment arm.
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GHCL (2% down)
Shares of GHCL ended Thursday with a loss of 2% after the company’s promoter told CNBC-TV18 that they are in talks to increase their stake. They added that they would not comment on shareholding changes in the company as the matter is sub judice.
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TVS Motor (28.2% up)
The TVS Motor share closed with a gain of 28.2% on talk of fund buying. “Sundaram and Templeton are buying more. Templeton was also buying yesterday,” said an institutional dealing head. As of March-end, Sundaram-Clayton held 8.84% in TVS Motor.
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First Published: Thu, Apr 23 2009. 11 42 PM IST